The staggering rise in the value of Bitcoin this weekend has been replaced by a precipitous fall. Over the past day, the minimum value was recorded – about $ 28,154 were given per unit of the main cryptocurrency. It corresponds to a drop in value of more than 13% in just a few hours.
The rate has now returned to about $ 31,000. As a reminder, it exceeded $ 34,300 over the weekend.
“Bitcoin is undergoing a much needed reset. After a period of increasing leverage and high [бессрочных] Funding rates on derivatives platforms require a brief consolidation around these levels, ”says Matthew Dibb, co-founder and chief operating officer of Stack Funds.
Dibb predicts continued capital transfers to Etherium and other cryptocurrencies as Bitcoin’s growth slows. However, he believes that the current fall in Bitcoin will be short-lived.
“Our position remains extremely optimistic: by February we plan to see $ 40,000 for Bitcoin,” said Dibb.
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